Dycom Industries Tops Q4 Estimates

reported better-than-expected results for its fiscal fourth quarter and issued a strong forecast for the current quarter on Tuesday. The Palm Beach Gardens, Florida-based company reported quarterly net income of $33.8 million, or $0.97 per share, compared to $16.5 million, or $0.47 per share, in the year-ago quarter. On a non-GAAP basis, the company's net income was $16.9 million, or $0.48 per share, in the year-ago quarter. Its revenue rose to $578.5 million from $482.1 million. However, analysts were expecting a profit of $0.83 per share on revenue of $567.1 million. Its adjusted EBITDA surged to $88.5 million in the latest quarter, versus $57.5 million in the year-ago quarter. Dycom lifted its share buyback program from $40 million to $90 million. For the first quarter, Dycom projects earnings of $0.96 to $1.04 per share on revenue of $615 million to $635 million. Analysts expected earnings of $0.76 per share on revenue of $567.5 million. Dycom shares climbed 8.62 percent to $65.51 in the after-hours trading session.